Taxes Consolidation Act 1997 Schedule 2B, paragraph 2

Declarations of pension schemes

Paragraph 2 of Schedule 2B sets out the requirements for a valid declaration by a pension scheme to an investment undertaking, so that exit tax is not deducted from gains on the scheme's units.

• A pension scheme can avoid exit tax on investment undertaking gains by making a written declaration to the undertaking in the prescribed form.
• The declaration must be made and signed by the person beneficially entitled to the units, and must state that the unit holder is a pension scheme.
• The declaration must include the pension scheme's name and tax reference number, along with a certificate from the scheme's appropriate person confirming the details are true and correct.
• The declaration must also include any other information the Revenue Commissioners may reasonably require for the purposes of Chapter 1A of Part 27.